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Chariot Oil Share Chat (CHAR)



Share Price: 15.50Bid: 15.00Ask: 15.50Change: -0.25 (-1.59%)Faller - Chariot Oil
Spread: 0.50Spread as %: 3.33%Open: 15.00High: 15.50Low: 15.00Yesterday’s Close: 15.75


Share Discussion for Chariot Oil (CHAR)


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Pegasusmarine
Posts: 415
Off Topic
Opinion:Strong Buy
Price:17.50
View Thread (3)
Ducksoup
21 Jul '14
Fat fingers - sorry ! I am glad they released after 16-30 so we have time to read analyse and digest it properly - especially as it is so comprehensive. I see it as good news on reflection .. Happy to be well on board !
 
Pegasusmarine
Posts: 415
Off Topic
Opinion:No Opinion
Price:17.50
Duck soul
21 Jul '14
Thx. 2714a is extended by chariot - good. Directors are buying In - Adonis $1m - good! Interesting times ahead
Ducksoup
Posts: 11,224
Off Topic
Opinion:No Opinion
Price:17.50
.
21 Jul '14
Any company that releases a placing rns after hours is one i would be avoiding for good.Just my opinion though
Gster
Posts: 112
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:17.50
In due course
21 Jul '14
Was meant to be separate and a quote

As jimmy says intriguing
Gster
Posts: 112
Premium Chat Member
Off Topic
Opinion:Buy
Price:17.50
RNS comprehensive
21 Jul '14
Seems quite comprehensive .

I posted on another board recently on a placement comment that in the absence of senior debt ( which is nowadays secured on producing assets predominately ) placing sate part of the funding for growth facilities available.

They can of course be use for other more negative purposes too .

My take here is that . 1. Chariot will probably have an oversubscribed placing
2. The current cash Is allocated and also provides a buffer 3.. The opportunity to aquire potential asset has presented itself is strong enough to allow the business to confidently find it by way if placing .

Whilst some of the key directors are investing it is particularly interesting to see the size if investment from the non execs own vehicle £1million

In due course sounds like it should be something they should be hinting at more strongly by way Of PR letting it slip out steadily ;)

More later .. Grilling !!

Wheeps get on board with it c'mon help us along
Pegasusmarine
Posts: 415
Off Topic
Opinion:No Opinion
Price:17.50
Searcher
21 Jul '14
Thx. 2714a is extended by chariot - good. Directors are buying In - Adonis $1m - good! Interesting times ahead
Searcher
Posts: 36,218
Observation
Opinion:No Opinion
Price:17.50
Jimmy from iii comment
21 Jul '14
Wow, this took me by surprise.

Comments:
1. Funds to be used for 50% of 3D seismic costs in Brazil, commercial terms agreed to farm out 25% of licence to pay the other 50% of the licence. Giant potential being accelerated.Also looking to farm out more of the 3D seismic cost.
2. Funds to be used to fund a new venture in a country where they operate to increase option value. Very cryptic. Its a wild guess of mine but could it be the acquisition of gas production in Morroco, good move if true.
3.New licence being applied for in Block 2714A as i suggested just earlier.
4. Mauritania 3D seismic interpretation nearing completion, expect a prospect to be ready for drilling subject to partnering in 2015/6
5Namibia Central block " Chariot is progressing a number of processes and the Company will update the market in due course" --- not sure what that means
6. Chariot applied for additional acreage in a country which it operates which will increase the option value of the portfolio in that country.
7. Six Directors will buy shares in the placing, including Adonis for $1 million.

Conclusion.
Chariot are moving straight into 3D seismic in Brazil without 2D seismic, 800Km2 of seismic which is already part funded. Chariot also looking to fund the rest of the 3D seismic with another farm out, so really all the money is most likely to be used for this new venture in a country it allready operates in.
Share capital to be increased by circa 25%, but as company is trading at cash already there is no dimunition in share value.
It looks like good news to flow soon though

Jimmy
Pegasusmarine
Posts: 415
Off Topic
Opinion:No Opinion
Price:17.50
Swaziron
21 Jul '14
new and existing ii's only. PO's are too emotional hehe
swaziron
Posts: 7
Observation
Opinion:Buy
Price:17.50
New capital
21 Jul '14
The main question is whether existing shareholders will be offered new shares and what the price will be
Pegasusmarine
Posts: 415
Off Topic
Opinion:Strong Buy
Price:17.50
A placing when we are at cash
21 Jul '14
Is not a dilution. Some guy on iii has got his maths all wrong .. Gee whizz lol



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